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Technology's Tryst with Trust

N. Chandramouli, CEO, TRA
Thursday, March 24, 2016
N. Chandramouli, CEO, TRA
Headquartered in Mumbai, TRA is a part of the Comniscient Group. It is a Brand Intelligence and Data Insights Company that enables businesses to understand & analyze stakeholder behaviour through two globally acclaimed proprietary matrices - Brand Trust and Brand Attractiveness.

Technology is an integral part of our lives today. From the engines of the cars we drive to the software inside of our phones and laptops, technology leaves a lasting imprint in both our personal and professional lives. In such a technology-driven world, trust is key. In fact it would not be an overstatement to say that today's consumer is married to technology. But this marriage is not meant to last a lifetime. The slightest slippage of trust can cause a chasm in the relation, from which recovering can be quite tricky.

As we share more and more of our private information with our gadgets and personal computers in just a few clicks of the button or swipes of our finger, it becomes absolutely essential for us to have complete faith in our technology. Although trust is inherently built into the tech sector, issues such as transparency regarding the misuse of confidential and private data introduce a degree of scepticism in the sector. This is why developing and reiterating trust in the tech sector is critical. At present, every player has their own approach to winning consumer's trust - there is no defined formula for it. However, using TRA's proprietary Trust Matrix it is possible to analyse the industry's trust indicators collected over the past six years.

The Trust Matrix is comprised of 61 attributes that are further clubbed into ten Behaviours of Trust. One of these ten Trust behaviours is Perceived Competence which consumers seem to consistently score high for the tech sector. This can be explained by the manner in which we suppose that technology ought to work for us, and our consequent dependence on the same for our work-related problems. It is not surprising that the tech industry must always outperform on this behaviour.

Another behaviour - Non-Threatening Ambience - has also performed strongly for the tech sector. An ambience that imparts confidence to the consumer is crucial to earn his trust. It is imperative that the consumer feel that the brand that she uses will cater to her future needs and one that will always operate on humane principles. The transparency debate further highlights the importance for a tech brand to stay strong in its Non-Threatening Ambience.

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